When we think about the NFL offseason, Franchise Tag Monday probably doesn't get them terribly excited. The NFL Scouting Combine, draft and free-agency period all get plenty of attention, but none of us really spend too much time discussing the tag.

Still, this day has huge implications for the rest of the offseason. Obviously, it affects free agency—and it looks like we'll have a very compelling crop of free agents this year—but depending on what the Kansas City Chiefs do today, it could also seriously affect this year's NFL draft.

That's right, folks, Franchise Tag Monday holds a lot of relevance for the rest of the offseason. Luckily for you, we have a full breakdown here and will be adding updates as news becomes available.

Dwayne Bowe and Branden Albert, Kansas City Chiefs

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UPDATE: Monday, March 4, at 4:20 p.m. ET by Timothy Rapp

The Kansas City Chiefs may have waited until the last minute to do it, but they made two major moves on Monday afternoon.

This is easily the most compelling pair of players believed to potentially be given the tag today, and it could end up having major implications for the NFL draft if Albert isn't tagged or re-signed by the Chiefs this offseason.

The St. Louis Rams may try to pull a fast one on the NFL and label Danny Amendola as a tight end, but if Jared Cook gets the franchise tag, he's expected to make the argument that he's a wide receiver.

Barring a last-ditch deal, then sometime on Monday, the Tennessee Titans are expected to place the franchise tag on tight end Jared Cook.

For the Titans, the emphasis of that sentence is not "franchise tag" or even "Jared Cook." It is on "tight end," which is what the team drafted Cook to be and will regard him as, as it pertains to applying the franchise tag.

That cost will be $6.07 million to the Titans, but Cook, as has been reported numerous places, could be angling to be tagged as a wide receiver, given that he played more than half his snaps lined up in the slot position. The receiver franchise tag is a much more lucrative $10.54 million.

It's certainly an interesting debate. I think most fans and even players would describe Cook as a tight end, but with the changing nature of the position, Cook certainly won't be the last player to make this argument.

Imagine if this was Aaron Hernandez, for instance. Is it really accurate to label Hernandez a tight end? We've seen him in the slot, split out wide, playing running back and taking snaps out of the Wildcat.

Cook likely won't win this battle if he gets the tag, but he'll certainly be bringing forth an interesting debate as the tight end position continues to evolve in the modern game.

Anthony Spencer, Dallas Cowboys

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In a rather surprising development, the Dallas Cowboys will franchise outside linebacker Anthony Spencer for the second year in a row, according to NFL agent Jordan Woy:

Dallas Cowboys will franchise tag Anthony Spencer for 2nd year in a row. We will work on long term deal.

According to Jason La Canfora of CBS, the Miami Dolphins are expected to use the franchise tag on defensive tackle Randy Starks. La Confora notes that the team won't use the tag on tackle Jake Long or corner Sean Smith since the cap hit for tagging either player with the tag would be too high.

There is no way that would ever go through, obviously, but it sure would be entertaining to see the Rams try. Amendola is going to hit the market, but I would be very surprised if the Rams allowed Sam Bradford's most reliable target to sign elsewhere.

It is widely believed that the team wants to retain the safety, however, so don't be shocked if he is signed to a contract extension sometime soon.

Sebastian Vollmer and Aqib Talib, New England Patriots

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UPDATE: Monday, Mar. 4, at 5:25 p.m. ET by Tim Keeney

It's official. The Patriots, for the first time in five years, elected not to use their franchise tag (via Andy Hart of Patriots.com):

That’s the case for Wes Welker this spring, as the deadline for NFL teams to assign their franchise or transition tags to would-be free agents came and went at 4 p.m. March 4 with nothing happening in New England.

The Patriots continue to weigh their options on the franchise tag as Monday's 4 p.m. deadline approaches.

No final decision has been made and the team will deliberate further on Monday, according to a league source.

The most likely candidates for the tag appear to be either right tackle Sebastian Vollmer or cornerback Aqib Talib.

It looks like there could be a pretty healthy market in free agency for both the tackle and cornerback positions, so I wouldn't be shocked if the team didn't use the franchise tag at all this season.

Still, solid offensive tackles don't grow on trees, and the Patriots are really weak at corner, so either player would make sense to slap the tag on.

Big Names That Won't Receive the Franchise Tag

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There are a lot of potential free agents with a lot of talent out there, and you might be surprised by some of the names that won't get the tag on Monday.

According to Aaron Wilson of the Baltimore Sun, the Baltimore Ravens won't use the franchise tag at all this year, meaning linebackers Dannell Ellerbe and Paul Kruger and safety Ed Reed could hit free agency this year.